Flat price around zero, spread below 200 points. As Business Square after the release of the data onItalian inflation slightly declining. EU harmonized prices rose in December by 12,3% yoy, as expected: in November the increase was 12,6%. In 2022, consumer prices recorded an average annual growth of 8,1% (+1,9% in 2021), marking the largest increase since 1985.
The overall figure for the Eurozone comes out tomorrow. Economists do not expect major improvements in core inflation, given that December's cooling was largely due to energy price stabilization measures introduced by governments.
The spread is down, gas is up slightly
The yield on bonds rose slightly: the ten-year bond is at 4,32% against 4,29% yesterday evening. The spread on the Bund, yesterday evening at 195 points, increases to around 200 points.
Energy prices recover from lows: gas natural EU +2% to 67 euro MWh, a rebound from the lows since January 2022, however -17% in the first sessions of 2023 thanks to temperatures above the seasonal average.
Spotlight on Amazon on Wall Street
The indications coming from the Fed weigh heavily, confirming the hard line of the central bank. But yesterday Wall Street however, it closed higher: the indications of monetary policy contained in the minutes of the December meeting of the Federal Open Market Committee did not curb the rebound much.
The future of Nasdaq it is little moved. It rises in the pre-exchange Amazon +1.7%: the company announced 18 redundancies.
European stock markets cautious
Even the stock exchanges of the Old Continent moved little, after the jump at the beginning of the year. He took advantage of the luxury giants (Hermès + 1%) after the progress of the last few days. Big Pharma, from Novartis to Sanofi, are retreating. In Milan Diasorin -1,6%.
The banking sector is also consolidating, yesterday up by +2,5%, to levels it has not seen since February a year ago. Since the beginning of the year, it has grown by around +6,30% vs +3,2% for the Stoxx 600 index.
It just shines Ryanair +5,7% after raising profit estimates.
The oil companies run in Milan, the air taxi pushes Stellantis
A Milano oil prices rebound, in line with the recovery of crude oil: Tenaris + 1,5% Saipem + 1%. Eni increases by 0,4% while there is talk of an interest by Plenitude for the purchase of a portfolio of 1,8 million gas customers which Endesa, the Spanish subsidiary of Enel (+0,6%) put up for sale as part of the divestments announced in November. The operation could represent a boost for the IPO of Plenitude, the subsidiary active in the marketing of electricity and gas and renewables of the oil group.
Recommended Iveco +1,3%: Morgan Stanley started hedging this morning at 5,60 euros. Salt too stellantis +1%. FCA Usa yesterday reported sales figures for the 4th quarter of 2022 down -16%. In the framework of the CES in Las Vegas announced a partnership with the US company Archer, manufacturer of electric aircraft to produce a vertical take-off aircraft. Carlos Tavares, CEO of Stellantis, will present two models today at CES 2023 in Las Vegas: the RAM 1500 Revolution BEV concept pick-up and the Peugeot Inception concept.
Out of the main basket Piaggio gains 2% benefiting from the data on December registrations in the Italian two-wheeler market which continues to show a far better trend than that of cars.
